England man Cole, out of contract in the summer, played an impressive supporting role in the Bluesâ 7-2 thrashing of Sunderland on Saturday, where Frank Lampard and Nicolas Anelka bagged doubles in a superb attacking display.

âI am a big fan of Joe Cole and we are in discussions with his agent â hopefully that will be sorted out soon,â said Buck.

The chairman also hinted boss Carlo Ancelotti will not be adding to his table-topping squad in the current transfer window.

The Blues were banned from signing any players for two transfer windows after Fifa found them guilty of inducing teenager Gael Kakuta to breach his contract with Lens three years ago.

But the Court of Arbitration for Sport then suspended the ban ahead of their appeal.

But Buck added: âWe have only used the January transfer window a couple of times [in the past].

âYou donât buy players just to buy players. A player really has to suit us and then he has to be available at the right price.â

* Chelseaâs Michael Essien is set to miss Ghanaâs must-win Africa Cup of Nations game with Burkina Faso tomorrow after picking up a knee injury.